☕️ Do you know that Malaysia has a law that criminalises adultery?

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

9.6% of viewer hours — VTubers made up just 1.4% of YouTube’s live gaming community from January to June 2023, but they captured nearly 10% of all viewer hours, according to GameSight. During this period, VTuber viewership grew by 28%, while other gaming creators on YouTube Live saw a 6% decline. Japan-based Cover Corporation is now focusing on the U.S. as the next major market for expanding its virtual anime-style influencer fan base.
Read: What is a VTuber, and how do you become one?

900 mil views —The viral “Charlie Bit My Finger” video (watch here), uploaded in 2007, remains one of YouTube’s most-watched clips. Charlie, now 18, credits its success for making life “easier” and helping fund his law studies at university. His family has earned an estimated GBP1 mil from the 55-second clip. YouTube, now a hub for 2.5 bil monthly users, continues to transform lives.

USD140 bil (RM621 bil) — Global insured losses in 2023 hit a seven-year high, up from USD106 bil in 2022, driven by extreme weather events like hurricanes and wildfires, according to Munich Re. This figure is more than double the 30-year average of USD61 bil and marks the third most expensive year on record. Weather catastrophes accounted for 97% of the losses, while total weather-related damages reached USD320 bil, over triple the 30-year average.

3. IN MALAYSIA 🇲🇾

Husband and mistress to pay more than RM500,000 for infidelity
Do you know that Malaysia has a law that criminalises adultery? According to Section 498 of our Penal Code, the law will punish the person outside of the marriage. Basically, the person who the spouse cheats with would get charged. Recently, the Kuala Lumpur High Court Judge Evrol Mariette Peter ordered a 38-year-old woman (the mistress) and a 74-year-old male (the husband) to pay more than RM500,000 in damages to the 72-year-old female (the wife). Below are the details:

1. The mistress needed to pay RM200,000 to the wife for her role in the breakdown of a marriage that lasted nearly five decades;

2. The husband needs to pay the wife RM205,000 in spousal maintenance for being guilty of committing adultery;

3. The mistress and the husband need to collectively pay RM100,000 in costs to the wife.

Previously, the husband and wife were married in 1977 but went through a divorce in 2022 after the husband allegedly admitted that he was having an affair (however, during the legal proceeding, the husband denied cheating on his wife, claiming he suffered from erectile dysfunction (ED)). As part of the divorce terms back then, the wife sought half the value of all movable and immovable assets gained during their marriage and held the mistress accountable for the breakdown of their relationship. So to Malaysians, think twice before you want to ruin a marriage as the law is not on your side. Plus, Malaysia is the third most populous single nation in the region, with 44.68% of Malaysians living a single life (unmarried, divorced, separated or widowed). So, there are enough fish in the pond.

Thailand's PM emphasises the importance of the border corridor to achieve trade goals with Malaysia
Thailand PM Paetongtarn Shinawatra highlighted that the border corridor between Thailand and Malaysia is the key factor in achieving the USD30 bil bilateral trade target set by 2027. This is because more than 30% of the total bilateral trade value is contributed by border trade activities. Thailand remains a key trading partner for Malaysia, ranking as its sixth-largest globally and second-largest within ASEAN in 2023, with bilateral trade valued at USD24.83 bil. A few infrastructure projects are ongoing and in the pipeline to further connect the border corridor, such as:

1. Road alignment linking the new CIQ Sadao in Songkhla with the ICQS of Bukit Kayu Hitam in Kedah;

2. The second bridge connects Rantau Panjang in Kelantan and Sungai Golok in Thailand. The project is in its final phase of addressing technical details before construction can commence;

3. The planned integrated double-track rail link, especially in Padang Besar, as well as the high-speed rail alignment;

4. A planned new bridge linking Tak Bai, Thailand, to Pengkalan Kubor, Kelantan.

Someone else’s rubbish can be another’s treasure

1. A raid on an illegal e-waste processing factory in Kuala Langat, Selangor, has shocked the police as instead of finding the typical e-waste, the authorities have uncovered that the ‘recycling plant’ has also added bullets as one of their acceptable goods to be recycled. Deputy Director of the Internal Security and Public Order Department Mohamad Suzrin Mohamad Rodhi said that during the raid dubbed Op Hazard, the police found bullet casings, fired bullets, and live ones as well. Some 50 tonnes of material were found during the raid at the factory, and between 70 and 80 workers have been detained for investigations. A special permit is required to recycle ammunition and it is an offence to do so without permission.

2. In another raid in Sungai Siput, Perak, the police have dismantled an illegal e-waste processing operation, following a month-long investigation. During the raid, a staggering RM1.3 bil worth of e-waste and machinery (used for smelting, processing, and a laboratory to break down and identify materials like gold, tin, and copper) were seized. The waste is believed to be from various countries, including China, the US, and Bolivia and has entered the country via Port Klang.

Shorts

1. Malaysian stockbrokers are recalculating their future profits as the Securities Commission (SC) has released proposals to revamp its fee structure and to impose a levy on revenue from their activities potentially. The fee structure revision and levy introduction come as no surprise after SC recorded its largest net operating deficit in at least a decade, totalling RM54.64 mil in 2023. The SC is self-funded and there has been no change in the framework on levies and fees charged by the statutory body for more than 30 years.

2. The Digital Ministry, in a written reply to the Parliament, has stated that the hacking method used in the cyberattack against Prasarana Malaysia Bhd last year was sophisticated and discreet until Prasarana’s security system could not even detect the unauthorised access. The cybersecurity incident that hit Prasarana has allegedly led to 316GB of data being stolen from the owner and operator of Malaysia’s rail services.

4. AROUND THE WORLD 🌎

RSF escalates attacks on Sudan’s famine-stricken Zamzam refugee camp
The Sudanese paramilitary Rapid Support Forces (RSF), which is losing ground to the Sudanese Armed Forces (SAF) in the capital, has stepped up its attacks on the Zamzam refugee camp near el-Fasher, resulting in at least 7 people killed in the camp this week. The effort is believed to be a way to tighten its grip on the Darfur stronghold.

Zamzam refugee camp houses 500,000 people displaced by fighting in this and past wars in Darfur, while nearby el-Fasher is home to 1.8 mil people. The RSF has been besieging the area for months, claiming that the camp is a base for the Joint Forces, former rebel groups now fighting alongside the army.

Residents of Zamzam still continuously live in fear of attacks, and are experiencing the worst form of hunger categorised as the Integrated Foor Security Phase Classification (IPC) Phase 5, meaning at least one in five people or households severely lack food and face starvation and destitution, which would ultimately lead to critical levels of acute malnutrition and death.
Learn: The 5 Phases of Famine

The people in Sudan are still suffering - the UN calls for the world’s attention to boost humanitarian aid efforts before the holy month of Ramadan, which begins in about 10 days.

AI and Chips

• DeepSeek drives USD 1.3 tril China stock rally as funds pile in from India
  China is benefitting from DeepSeek's breakthrough - the AI startup is now helping to drive a rotation of stock funds back into China from India. While India suffers from a record departure of cash due to various economic challenges, hedge funds have been piling into Chinese equities at the fastest pace in months as bullishness on the DeepSeek-driven technology rally adds to hopes for more economic stimulus for the country. China had once been less appealing for investing but now looks to be regaining its former appeal on a fundamental reevaluation of its investability, especially in tech. China’s onshore and offshore equity markets have added more than USD1.3 tril (RM5.7 tril) in total value in just the past month amid such reallocations, while India’s market has shrunk by more than USD720 bil.

• Broadcom, TSMC eye possible Intel deals to split the US chipmaker
  The Wall Street Journal reported that a deal could strike in the future that will split US chipmaking icon Intel into two. Intel’s rivals Taiwan Semiconductor Manufacturing Co and Broadcom are both said to be examining Intel’s chip design and marketing business, but the talks are so far only preliminary and informal. However, while the Trump administration supported foreign companies investing and building in the US, it is "unlikely" for it to support a foreign firm operating Intel's factories. Intel was among the largest beneficiaries of the US push to onshore critical chip manufacturing led by former President Joe Biden's administration. The US Commerce Department said in November it was finalising a USD 7.86 bil (RM34.8 bil) government subsidy for Intel.

Birkin bag maker Hermes keeps winning, rivals faltering
Hermes has delivered a solid end to 2024, based on its latest Q4 earnings report indicating that the group’s sales hit EUR 3.96 bil, up nearly 18% and beating analyst estimates of EUR 3.69 bil. Annual revenues rose almost 15% to EUR 15.2 bil.

The better-than-expected results had sent its stocks soaring to a record high. Hermès stock rose as much as 4.2% in Paris on Friday, pushing the market cap above EUR 300 bil euros for the first time. Shares have jumped 23% this year and about 300% over the past five years, inching its market cap closer to rival LVMH Moët Hennessy Louis Vuitton. Despite raising prices by 6% to 7% this year, Hermes’s strong performance comes as other luxury brands struggle amid a slump in high-end spending.

Hermès Birkin bags are highly coveted status symbols among the wealthy, with five-figure price tags and long waitlists. The handmade leather bags start at around USD 10,000. But its design is also a hit among dupe enthusiasts, in which the viral Walmart Birkin bags aka "Wirkins" or "Walmès bags”, became a TikTok sensation last year. Available for purchase at just USD80. Hermes CEO Axel Dumas could not help expressing his annoyance about it, but well, isn’t imitation the sincerest form of flattery?

Shorts

1. Trump: Nothing is illegal when it is for saving the country

   Ever since taking office, Trump has been relentless and making broad assertions of executive power that appear headed toward US Supreme Court showdowns. Echoing French military leader Napoleon Bonaparte, Trump took to social media to signal his continued resistance to the limits of his power, citing, “He who saves his Country does not violate any Law”. He really believes that his purpose on Earth is to save America. Sounds a lot like a dictatorship.
   On a separate note, Trump met Indian PM Narendra Modi. There’s a first time for everything: an English translator to translate English to English - watch here.

2. 18 killed in a crash at New Delhi train station

   At least 18 people were crushed to death, including 10 women and 3 children, at a train station in New Delhi on their way to the annual religious pilgrimage of Mahakumbh Mela. A sudden surge of travellers had occurred on the platform due to a delay in two trains, with people rushing to board the arriving train and start panicking at a rumour of stampede. The Mahakumbh is the single biggest milestone on the Hindu religious calendar, and officials said about 500 million devotees have already visited the festival since it began in January.

3. President Javier Milei risks impeachment after endorsing Libra “rug pull”

   Argentina’s President has made one careless move at endorsing a project without knowing the details, putting him at risk of an impeachment called by the country’s opposition party. He had apparently endorsed a USD107 mil cryptocurrency project that collapsed in what analysts are calling a massive insider scam, or a possible “rug-pull” that steals from investors. The token named LIBRA briefly rose to a peak market capitalisation of USD 4.56 bil on Feb 14, before collapsing 94% to a USD257 mil market cap in just 11 hours since the token debuted for trading on decentralised exchanges.

5. FOR YOUR EYES 📺

1. Why has Apple lost its lustre? If you have a messy desk, it could be a sign you are a genius, according to science.

2. A belated Happy Valentine’s Day to our corporate readers

3. Not everything is as it seems.